When was the last time you checked your credit score? If the answer is never, you’re not alone.
More than 50% of Canadians have never checked their credit score, and close to 70% currently have no idea what their score is.
And while you might want to just put it out of your mind and hope for the best, that decision could come back to haunt you.
Your credit score has a huge impact on your ability to take out a mortgage, buy a car, and even get approved for a credit card.
The good news is, with the help of a service called Borrowell, checking your credit score is fast, simple, and totally free.
Boost your score by 100s of points
In just 3 minutes Borrowell will show you your Equifax credit score and credit report.
You can access your credit information anytime, and Borrowell updates it every month so you can easily keep track of your progress.
And if your credit score isn’t where you’d like it to be, Borrowell’s free credit monitoring service will give you personalized tips to help you turn things around fast.
“I followed their advice and went from a 560 to a 680 in a few months,” says Oswald, a Borrowell customer since 2019.
Oswald also took advantage of Borrowell’s customized product recommendations, which show you the best offers on financial products like loans and credit cards.
“I got a recommendation for a LOC and… was approved at a decent interest rate,” he says. “Highly recommended.”
Knowledge is power
Sometimes life throws you a curveball and a drop in your credit score is unavoidable. Just ask Michelle, whose score took a major hit when her cat Epic got sick and she had to take out a predatory loan from the veterinary clinic.
“You’re desperate so you take high interest, high fees, and generally dirty practices to save your pet’s life,” she remembers. “I was in a very bleak situation.”
But then Michelle started monitoring her credit with Borrowell and soon her score did a 180.
“Being able to have all the information that came along with the credit monitoring was... really helpful, especially at the beginning,” she says.
Once her credit cards were paid off, Michelle took out a debt consolidation loan with Borrowell, and now her high-interest loan is history. And in case you’re wondering, Epic is doing great.
“I feel like I’ve made it over the mountain and that thought in itself leaves me less stressed.”
Tools to help you turn things around
In addition to providing your credit score, Borrowell also offers free tools to help you improve it. By using these resources, many Borrowell users have completely changed their financial outlook.
Take Amanda, for example. She racked up a huge amount of credit card debt in her 20s and eventually filed for bankruptcy, which tanked her score.
After a few years of skating by, Amanda found out she was going to have a baby and decided it was time to do something about her financial situation.
“The moment I realized I [had] to change things was when I looked at my credit statement and saw that it was going to take 73 years to pay it off, paying only the minimum," she says.
She started using Borrowell and took advantage of their free AI-powered credit coach, Molly, which gave her personalized advice on how to boost her score and get out of debt faster.
Now Amanda’s making smart choices to help get her finances back on track — not just for herself, but for her son too.
“The more I use Borrowell, the more I can see my financial health improve, and I really do trust it,” she says.
Changing your credit score could change your life
Don’t put off checking your credit score a minute longer – the sooner you know where you stand, the easier it will be to turn things around.
Borrowell helped Oswald, Michelle, and Amanda take control of their credit, and it can do the same for you.
Even if you’re just curious, sign up for Borrowell today. It’s totally free, and it only takes a few minutes to get started.